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\begin{tabular}{lccccc} \hline
 & (1) & (2) & (3) & (4) & (5) \\
 & OLS & OLS & OLS & 2SLS & System GMM \\
VARIABLES & Electoral democracy index & Electoral democracy index & Electoral democracy index & Electoral democracy index & Electoral democracy index \\ \hline
 &  &  &  &  &  \\
Arms technology lag = L, & 0.13** & 0.19*** & 0.20*** & 0.55*** & 0.08** \\
 & (0.05) & (0.05) & (0.05) & (0.18) & (0.04) \\
Small arms lag = L, & 0.03 &  &  &  &  \\
 & (0.03) &  &  &  &  \\
Arms technology lag to Western Europe = L, &  & -0.26 &  &  &  \\
 &  & (0.24) &  &  &  \\
Lag GDP per capita (log) = L, & -0.12*** & -0.16*** & -0.17*** & -0.20*** & -0.10*** \\
 & (0.04) & (0.04) & (0.05) & (0.05) & (0.03) \\
Electoral democracy index = L, &  &  &  &  & 0.78*** \\
 &  &  &  &  & (0.04) \\
 &  &  &  &  &  \\
Observations & 2,368 & 2,368 & 1,882 & 1,882 & 1,898 \\
Sample & Full & Full & Excl. WEU & Excl. WEU & Excl. WEU \\
Countries & 143 & 143 & 127 & 127 & 153 \\
 Kleibergen-Paap F-statistic &  &  &  & 39.85 &  \\ \hline
\multicolumn{6}{c}{ Robust standard errors in parentheses} \\
\multicolumn{6}{c}{ *** p$<$0.01, ** p$<$0.05, * p$<$0.1} \\
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